Section 32 Fund 2, LP
Section 32 · adviser of record: Section 32, LLC · 2017 vintage
Section 32 Fund 2, LP is a 2017 venture fund managed by Section 32, with $199mm raised (Form D, amount sold). It reported $193mm in gross assets at year-end 2025, 0.97x its size, against a peak of $433mm in 2020.
- Latest value held
- $193mm year-end 2025
- Peak
- $433mm year-end 2020
- Fund size
- $199mm Form D, amount sold
- Held vs. size
- 0.97x peak 2.17x
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $193mm | 0.97x | -12% over 2 yrs |
| 2023 | $218mm | 1.10x | -6% |
| 2022 | $232mm | 1.16x | -39% |
| 2021 | $380mm | 1.91x | -12% |
| 2020 | $433mm | 2.17x | +94% |
| 2019 | $224mm | 1.12x | -2% |
| 2018 | $228mm | 1.14x | +20% |
| 2017 | $190mm | 0.95x | – |
Other funds from Section 32
- Section 32 Fund 5, LP 2022
- Section 32 Fund 4, LP 2021
- Section 32 Fund 3, LP 2020
- Section 32 Fund 1, LP 2016
About these numbers
Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-2065024600. Data updated October 13, 2026.
Is this your fund?
Spot an error and email a correction. Facing DPI pressure? See how distribution financing works.